Geox 2021 sales rise 14.4%, sees uncertainty over Ukraine tensions
24/02/2022 16:28
MILAN, Feb 22 (Reuters) - Sales at Italy's Geox GEO.MI
rose 14.4% at constant exchange rates last year and the positive
trend continued in the first months of 2022 but the shoemaker
added there was growing uncertainty due to the unfolding Ukraine
crisis.
The maker of breathable yet waterproof footwear said
full-year revenues rose to 608.9 million euros ($677.71 million)
in 2021, in line with its own forecasts, with growth coming from
the gradual re-opening of the distribution network.
Direct store comparable sales rose 44% in the first weeks of
this year compared to 2021 and nearing pre-pandemic levels, the
company added.
Its 2021 operating loss narrowed to 44.9 million euros from
a loss of 123.7 million euros the previous year.
Geox said it was impossible to predict the impact the
Ukraine-Russia crisis would have on its business, adding its
turnover in Russia amounted to 51 million euros last year and 5
million euros in Ukraine.
($1 = 0.8985 euros)
(Reporting by Michele Calamaio; editing by Agnieszka Flak)
((Michele.Calamaio@thomsonreuters.com;))